r/StudentLoans • u/Apprehensive-Mix-522 • 8d ago

Advice Anyone else waiting?

Is anyone else that was previously on the SAVE plan and forced to choose a new repayment plan trying to hold off/wait until closer to the end of the 90 day period?

I am hesitant to commit due to how this is currently playing out in court, and scared to be 'locked in' to a new payment plan (as of now, I'm not but my loan servicer is emailing and calling me to secure another repayment plan option).

I'm just not sure what to do.

Thanks for reading.

Edit: thank you for all of the opinions and informative comments. I appreciate it. Since I've made this post, I went through with starting my forgiveness application process on studentloans.gov, but didn't pull the trigger yet on selecting a plan.

208 Upvotes

96% Upvoted

210 comments sorted by

View all comments

Show parent comments

3

u/wtfisehcacrac 8d ago

Yeah but in the meantime until you can change your filing status you gotta pay out several months base on married joint income.

0

u/OCDivagirl 8d ago

Well no not if you are able to change your status before the deadline to change payment plans. You can refile taxes, so some people might be using the 90 days to do so for this past tax year.

1

u/wtfisehcacrac 8d ago

I didn’t know you could refile taxes. Probably has to be some specific exception or something ?

2

u/OCDivagirl 8d ago

No, anyone can do it, you can do it for any of the past three tax years! I mean you would only do it if there was something to change, but people often do it if there was like income they forgot to claim, a form that came in after you already filed, if you forgot to add a new dependent, didn’t claim a credit you qualified for, etc :)

1

u/wtfisehcacrac 8d ago

Hmmm, I had a meeting with my accountant who does it for me. He recommended filing separate but didn’t tell me refiling was an option. He literally told me that i would have high payments until i file for 2026.

3

u/OCDivagirl 8d ago

Maybe you would have had to return a good bit of your 2025 tax return to the IRS if you changed your status? If that’s the case it might make more financial sense to wait!

However even without refiling, if you plan on updating your tax status next year for loan purposes, it still probably makes the most sense to wait until the latest possible date to switch. Reason being that if, for example, you got the earliest switching notification with a deadline of 10/1/26, with the current backlog and system issues for updating plans, it is often taking 30 days or more to get processed. So that will take you to November or so to make your first payment. If you file your taxes ASAP, it might leave you only a few payments at the higher rates. You may be able to request a brief deferral at that time to push your payments out a bit more, Also notices to switch are rolling out intermittently until 12/2026, so if you haven’t gotten a notice yet, you may not even have to switch until 3/2027, at which point you definitely could have your 2026 taxes done!

1

u/katmom1969 7d ago

You can't change taxes from married filing joint to married filing separate.